Stop Cash Shrink

In 2016, a Republican sweep in races for Congress and the White House signaled the likelihood of changes in arcane banking regulations that elated Wall Street but were as familiar to the denizens of Main Street as the text of the Magna Carta or the 39 signatures on the U.S. Constitution.

The results of last Tuesday’s mid-term elections signal a potential shift in a far less esoteric rule: one that effectively prevents banks from opening accounts for marijuana distributors.

“There’s growing recognition that the policy that makes it difficult to nearly impossible for state-legal marijuana businesses to have access to banking services is outrageous,” said Rep. Earl Bluemenauer, the Oregon Democrat who helped form the Congressional Cannabis Caucus.